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The High Cost of Layoffs

Yesterday, October 19, Federal Reserve Chairman Jerome Powell admitted that “inflation is still too high.” This comes amid reports that many large banks (especially at Wells Fargo and Goldman Sachs) are reducing their staffs in response. The financial sector is not the only group of industries cutting back, however, as…
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The Great Retention?

One of the great challenges in the pandemic and post-pandemic business landscape has been the so-called Great Resignation, the ballooning trend that saw millions of Americans leave their current jobs in search of something else. Some retired altogether, some pursued new jobs, and some even caught the entrepreneurship bug and…
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Customer Service Starts with Company Culture

While we should hope that every business wants to deliver a top-shelf customer experience, complete with great products, convenience, and a well-trained staff, far too many fall short of these lofty standards. Worse still, there are many companies that seem to have accepted their shortcomings as being necessary, especially in…
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Use Your Reputation to Recruit

The numbers for the Great Resignation continue to shock everyone. As cited by The Motley Fool, “Since the start of the pandemic, 20% of workers have changed careers,” and a further “46% of employees are considering a career change.” We’ve seen especially high turnover months during this time, including August…
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Preparing for Stagflation

Market volatility has certainly caught everyone’s attention recently. The Dow Jones is down over 5,000 points year-to-date, purchasing power is down over 8%, and the economy shrunk 1.4% in the first quarter. Former Chair of the Federal Reserve, Ben Bernanke, as well as an alarming number of economists, are now…
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Employee Fulfillment

In last week’s blog, we discussed the rising tide of employee turnover straining an already delicate economy. One key Gallup quote that should haunt all of us is, “Fifty-two percent of voluntarily exiting employees said their manager or organization could have done something to prevent them from leaving their job.”…
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How to Survive Short Staffing

According to the National Federation of Independent Business’s October 2021 Report, nearly half of business owners report that they have job openings that they cannot fill. According to NFIB Chief Economist Bill Dunkelberg, “Small business owners are attempting to take advantage of current economic growth but remain pessimistic about business…
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